PG&E warned its shareholders that deficiencies in its leak detection procedures could rPG&E 2009 Annual Report, page 45esult in a major catastrophe.  It further warned that the economic cost of the catastrophe could jeopardize the utility’s financial condition. But it didn’t warn its customers.

According to its 2009 Annual Report, PG&E reviewed its own gas leak survey practices in 2008 and found that "improvements